The United States and Japan will step up their defence cooperation to deal with the threat from nuclear-armed North Korea as tensions in East Asia remain high, officials from the two allies said on Thursday.

Palmer wants all to agree on finance laws

Palmer United Party leader Clive Palmer wants the government and opposition to reach an agreement on financial advice laws that ensure everyone is protected.

Financial advice laws brought in by Labor have failed to protect industry super funds and are biased towards union-managed funds, and that needs to be corrected, Mr Palmer says.

The Palmer United Party will only support Future of Financial Advice (FOFA) laws that are unambiguous, transparent and universally fair, he says in a statement.

PUP initially supported the government's financial advice laws.

But after a marathon debate, the Senate on Wednesday voted to reverse government changes to Labor's FOFA laws, introduced to tighten rules surrounding financial advice following a series of financial collapses.

The surprise overturning of the government's changes came after crossbench senator, independent Ricky Muir, and PUP senator Jacqui Lambie sided with Labor, despite previously voting twice with PUP to keep the FOFA changes.

Mr Palmer said all Australians with superannuation, whether in industry or other superannuation funds, should have the same levels of consumer protection.

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"We cannot have a FOFA framework that puts ordinary Australian investors of industry superannuation funds at risk, where their retirement plans could be potentially ruined by unscrupulous financial planners putting their own interests first," he said in a statement.

"I call on both parties to reach a consensus on this matter to ensure all Australians' super funds are equally protected."